New York State Assembly

 
•  Summary 
 
•  Actions 
 
•  Committee Votes 
 
•  Floor Votes 
 
•  Memo 
 
•  Text 
 
•  LFIN 
 
•  Chamber Video/Transcript 

A10611 Summary:

A10611 Actions:

A10611 Committee Votes:

Committee:ENVIRONMENTAL CONSERVATION   Chair:Englebright      
DATE:05/15/2018AYE/NAY:26/0  Action: Favorable refer to committee Ways and Means        
Englebright
Aye
Stec
Aye
Glick
Aye
Butler
Aye
Colton
Aye
Raia
Aye
Cymbrowitz
Aye
Palumbo
Aye
Lifton
Excused
Miller ML
Aye
O'Donnell
Excused
Miller B 
Aye
Peoples-Stokes
Aye
Garbarino
Aye
Gunther
Aye
Walter
Aye
Jaffee
Aye
Titone
Aye
Crespo
Aye
Thiele
Aye
Abinanti
Aye
Ryan
Absent
Fahy
Aye
Rozic
Aye
Otis
Aye
Williams
Absent
Barrett
Aye
D'Urso
Aye
Carroll
Aye
Pellegrino
Aye

Committee:WAYS AND MEANS   Chair:Weinstein      
DATE:05/30/2018AYE/NAY:29/0  Action: Favorable         
Weinstein
Aye
Oaks
Aye
Lentol
Excused
Crouch
Aye
Schimminger
Aye
Barclay
Aye
Gantt
Excused
Fitzpatrick
Aye
Glick
Excused
Hawley
Aye
Nolan
Excused
Malliotakis
Aye
Pretlow
Aye
Walter
Aye
Perry
Aye
Montesano
Aye
Colton
Aye
Curran
Aye
Cook
Excused
Ra
Aye
Cahill
Aye
Aubry
Aye
Hooper
Aye
Thiele
Aye
Cusick
Aye
Ortiz
Aye
Benedetto
Aye
Weprin
Aye
Rodriguez
Aye
Ramos
Aye
Braunstein
Aye
McDonald
Aye
Rozic
Aye
Peoples-Stokes
Aye
Simotas
Excused

A10611 Floor Votes:

A10611 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          10611
 
                   IN ASSEMBLY
 
                                       May 9, 2018
                                       ___________
 
        Introduced by M. of A. STERN, ENGLEBRIGHT -- (at request of the Environ-
          mental  Facilities  Corporation)  --  read  once  and  referred to the
          Committee on Environmental Conservation
 
        AN ACT to amend the environmental conservation law, in relation to water
          pollution control revolving fund agreements
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Paragraph  a  of  subdivision 3 of section 17-1909 of the
     2  environmental conservation law, as amended by chapter 326 of the laws of
     3  2015, is amended to read as follows:
     4    a. The corporation is authorized to promulgate regulations,  developed
     5  in  consultation  with the commissioner and the director of the division
     6  of the budget, for the purpose  of  carrying  out  its  responsibilities
     7  under  this  section,  including establishing criteria and standards for
     8  determining the amount of financial assistance to a municipality for  an
     9  eligible  project.  To the extent financial assistance to a municipality
    10  for an eligible project is provided as a loan from the proceeds of bonds
    11  or notes of the corporation, the amount of an allocation  applicable  to
    12  the  portion  of such eligible project financed with such loan shall be,
    13  subject to such maximum financial limitations as may otherwise be neces-
    14  sary and prescribed by the commissioner and the director of the division
    15  of the budget, thirty-three  and  one-third  percent  of  the  principal
    16  amount  of  such loan outstanding at any time for such eligible project,
    17  to the extent reasonably practicable, and subject to such  deviation  as
    18  may  be  necessary, in connection with the administration and investment
    19  of moneys in the fund,  unless  allocations  in  differing  amounts  are
    20  necessary  to preclude a determination by the commissioner or the corpo-
    21  ration pursuant to paragraph e of subdivision eight of this  section  or
    22  unless an allocation in a differing amount is required for an innovative
    23  technology demonstration project; provided, however, that in the case of
    24  any  municipality which has, during the period commencing on June first,
    25  nineteen hundred ninety-two and ending on September thirtieth, two thou-
    26  sand [eighteen] twenty-one, (i) submitted an application  for  financial
    27  assistance  in  the  form  of such a loan for an eligible project, which
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14346-01-8
        A. 10611                            2
 
     1  application has been accepted by the corporation, (ii)  closed  on  such
     2  loan,  and  (iii)  commenced  construction of such eligible project, the
     3  allocation applicable to the portion of such project financed with  such
     4  loan shall be, subject to maximum financial limitations as may otherwise
     5  be  necessary and prescribed by the commissioner and the director of the
     6  division of the budget, fifty percent of the principal balance outstand-
     7  ing on such loan at any time for such eligible project,  to  the  extent
     8  reasonably  practicable,  and subject to such deviation as may be neces-
     9  sary, in connection with the administration and investment of moneys  in
    10  the  fund,  unless  allocations  in  differing  amounts are necessary to
    11  preclude a determination by the commissioner or the corporation pursuant
    12  to paragraph e of subdivision eight of this section or unless  an  allo-
    13  cation  in  a  differing amount is required for an innovative technology
    14  demonstration project.
    15    § 2. Paragraph e of subdivision 8 of section 17-1909 of  the  environ-
    16  mental  conservation law, as amended by chapter 326 of the laws of 2015,
    17  is amended to read as follows:
    18    e. Federal capitalization grants are provided in the form of a  letter
    19  of credit or draws under capitalization grant agreements and the commis-
    20  sioner  or  the  corporation determines, consistent with the purposes of
    21  the fund, that providing  financial  assistance  from  the  proceeds  of
    22  corporation bonds or notes would delay receipt of moneys from the feder-
    23  al government under the Federal Water Pollution Control Act.
    24    The interest rate charged on any loan made by the corporation pursuant
    25  to  this subdivision shall be no more than two-thirds of the market rate
    26  of interest otherwise applicable thereto, provided, however, that in the
    27  case of any municipality which has, during the period commencing on June
    28  first, nineteen hundred ninety-two and ending  on  September  thirtieth,
    29  two  thousand  [eighteen]  twenty-one,  (i) submitted an application for
    30  financial assistance in the form of a loan from the corporation pursuant
    31  to this subdivision, for an eligible project, which application has been
    32  accepted by the  corporation,  (ii)  closed  on  such  loan,  and  (iii)
    33  commenced  construction  of  such  eligible  project,  the interest rate
    34  charged on such loan shall be no more than one-half of the  market  rate
    35  otherwise applicable thereto.
    36    § 3. This act shall take effect immediately.